Aurora Innovation (NASDAQ:AUR) Sees Unusually-High Trading Volume Following Insider Buying Activity

Key Points

• Aurora Innovation shares experienced an **84% increase** in trading volume following the purchase of **162,337 shares by Director John J. Donahoe** at an average price of $6.10, totaling approximately $990,255.70.
• Brokerages have raised their target prices for Aurora Innovation, with **Canaccord Genuity** setting a target of **$15.00** and giving the stock a **"buy" rating**; the company currently has a consensus rating of **"Moderate Buy."**
• In its latest earnings report, Aurora Innovation surpassed expectations with an **EPS of -$0.11**, compared to the consensus estimate of -$0.12, and reported revenue of **$1.00 million**, exceeding the estimate of $0.50 million.

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) saw unusually-strong trading volume on Friday after an insider bought additional shares in the company. Approximately 35,431,401 shares traded hands during mid-day trading, an increase of 84% from the previous session's volume of 19,294,834 shares.The stock last traded at $6.09 and had previously closed at $6.20.

Specifically, Director John J. Donahoe acquired 162,337 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was bought at an average cost of $6.10 per share, with a total value of $990,255.70. Following the completion of the transaction, the director directly owned 162,337 shares in the company, valued at approximately $990,255.70. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Analyst Ratings Changes

A number of analysts have recently issued reports on AUR shares. Needham & Company LLC raised their price objective on Aurora Innovation from $10.00 to $13.00 and gave the company a "buy" rating in a research report on Friday, May 9th. The Goldman Sachs Group lifted their price target on Aurora Innovation from $6.00 to $7.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. Finally, Canaccord Genuity Group lifted their price target on Aurora Innovation from $10.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Aurora Innovation presently has an average rating of "Moderate Buy" and an average price target of $10.75.

Aurora Innovation Stock Performance

The stock has a market capitalization of $11.51 billion, a price-to-earnings ratio of -13.28 and a beta of 2.49. The company has a fifty day simple moving average of $5.71 and a two-hundred day simple moving average of $6.50.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.01. The company had revenue of $1.00 million during the quarter, compared to analyst estimates of $0.50 million. As a group, equities analysts anticipate that Aurora Innovation, Inc. will post -0.49 earnings per share for the current year.

Hedge Funds Weigh In On Aurora Innovation

Institutional investors have recently modified their holdings of the business. Uber Technologies Inc acquired a new position in shares of Aurora Innovation during the 4th quarter worth $2,053,632,000. Toyota Motor Corp acquired a new position in shares of Aurora Innovation during the 4th quarter worth $298,294,000. Lightspeed Management Company L.L.C. acquired a new position in shares of Aurora Innovation during the 4th quarter worth $74,003,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Aurora Innovation by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,671,319 shares of the company's stock worth $168,030,000 after buying an additional 3,237,609 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Aurora Innovation during the 1st quarter worth $17,152,000. Institutional investors and hedge funds own 44.71% of the company's stock.

About Aurora Innovation

Aurora Innovation, Inc operates as a self-driving technology company in the United States. It focuses on developing Aurora Driver, a platform that brings a suite of self-driving hardware, software, and data services together to adapt and interoperate vehicles. The company was founded in 2017 and is headquartered in Pittsburgh, Pennsylvania.